Bill > A00454

This bill amends the New York General Municipal Law to specifically allow the Niskayuna central school district to establish an insurance reserve fund. Insurance reserve funds are special financial accounts that municipalities and school districts can create to set aside money to cover potential insurance-related losses, claims, actions, or judgments. Under the existing law, several other school districts were already permitted to create such funds, and this bill simply adds the Niskayuna central school district to that list. The fund can be used for expenditures related to insurance risks, specifically those authorized under paragraph three of section one thousand one hundred thirteen of the insurance law. By creating this reserve fund, the Niskayuna school district will have the ability to proactively set aside money to cover potential future insurance-related expenses, which can help manage financial risks and potentially reduce the immediate financial impact of unexpected insurance claims. The bill will take effect immediately upon passage.

Education

https://www.nysenate.gov/legislation/bills/2025/A454